FINA Committee Meeting

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MINUTES OF PROCEEDINGS

Meeting No. 51

Monday, October 27, 2014

The Standing Committee on Finance met in a televised session at 3:30 p.m. this day, in Room 237-C, Centre Block, the Chair, James Rajotte, presiding.

Members of the Committee present: Mark Adler, Mike Allen, Guy Caron, Nathan Cullen, Gerald Keddy, James Rajotte, Murray Rankin and Dave Van Kesteren.

Acting Members present: Arnold Chan for Hon. Scott Brison, Patricia Davidson for Andrew Saxton, Don Davies for Guy Caron and Chungsen Leung for Andrew Saxton.

In attendance: Standing Committee on Finance: Michaël Lambert-Racine . Library of Parliament: Mark Mahabir, Analyst.

Witnesses: Canadian Centre for Policy Alternatives: Armine Yalnizyan, Senior Economist. Canadians for Tax Fairness: Dennis Howlett, Executive Director. Restaurants Canada: Joyce Reynolds, Executive Vice-President, Government Affairs. Portfolio Management Association of Canada: Scott Mahaffy, Chair, Industry, Regulation and Tax Committee. Tax Executives Institute, Inc.: Paul Magrath, Vice-President, Canadian Affairs. As an individual: Gareth Kirkby. Canadian Bankers Association: Terry Campbell, President. Chartered Professional Accountants of Canada: Kevin Dancey, President and Chief Executive Officer, Executive Office. Deloitte: Albert Baker, Global Tax Policy Leader. Investment Industry Association of Canada: Brian Parker, Member, President and Chief Executive Officer, Institutional Sales, Acumen Capital Partners.

Pursuant to Standing Order 83.1, the Committee resumed its pre-budget consultations 2014.

Armine Yalnizyan, Dennis Howlett, Joyce Reynolds, Scott Mahaffy and Paul Magrath made statements and answered questions.

The Committee proceeded to the consideration of matters related to Committee business.

Nathan Cullen moved, — That the Finance committee invite the Minister of Finance to appear before it at the earliest opportunity to explain what steps he has taken to follow up on the premature public release on October 9th 2014 of the details of the taxation changes that will be contained in the Fall Economic Update.

Debate arose thereon.

Murray Rankin moved, — That the motion be amended by replacing the words “Fall Economic Update” with the words “Budget Implementation Act”.

The question was put on the amendment of Murray Rankin and it was negatived, by a show of hands: YEAS: 4; NAYS: 5.

The question was put on the motion and it was negatived, by a show of hands: YEAS: 4; NAYS: 5.

Pursuant to Standing Order 83.1, the Committee resumed its pre-budget consultations 2014.

Gareth Kirkby, Terry Campbell, Kevin Dancey, Albert Baker and Brian Parker made statements and answered questions.

At 6:30 p.m., the Committee adjourned to the call of the Chair.

Mike MacPherson
Committee Clerk

2014/10/30 9:36 a.m.